Introduction Dividend income is a distribution of corporate profits to shareholders. The IRS categorizes dividends as ordinary or qualified, each subject to different tax rates. This guide explains how...
Introduction Interest earned on a savings account or certificate of deposit (CD) is considered taxable income and must be reported to the IRS. Banks and credit unions issue Form...
Introduction Earned income includes wages, salaries, and self-employment earnings, but some income sources don’t fit neatly into those categories. These are classified as “Other Earned Income”, which must still...
Introduction Tips are taxable income and must be reported to the IRS. Many employees in service industries (e.g., restaurant workers, bartenders, and hotel staff) receive cash tips, credit card...
Introduction If you hire a nanny, housekeeper, caregiver, or gardener, you may be responsible for household employment taxes. These taxes ensure compliance with Social Security, Medicare, and unemployment tax...
Introduction Employers are required by the IRS to issue Form W-2 (Wage and Tax Statement) to employees by January 31 each year. However, some employees may not receive their...
Entering the tax season can often feel like stepping into a labyrinth for high net worth individuals. With the complexity of their financial portfolios, the path to efficient tax...
Are you ready to navigate the maze of updated income tax rates? Say goodbye to confusion and hello to financial savvy with our expert insights! Whether you’re a seasoned...
Encountering an income tax notice in your mailbox or inbox can instantly escalate your stress levels, often triggering a flurry of questions and concerns. But what if we told...
Attention all homeowners and aspiring property moguls! The season of crunching numbers and navigating the labyrinth of tax filings is upon us. But before you spiral into the abyss...